I had intended to instruct a conveyancing solicitor in Chelsfield for our house purchase. Our financial adviser informed us that our mortgage company Accord Mortgages Ltd won't deal with them. Surely this is unfair competition?
A decade ago most mortgage companies had a different appetite for risk. Almost all Chelsfield conveyancing firms would have been on many mortgage company panels. The financial services regulator in 2010 completed a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms regarding their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of conveyancing. Many Chelsfield conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Chelsfield is amongst the hundreds of locations where the lawyers we list are are authorised to act for Accord Mortgages Ltd.
I am buying my first flat in Chelsfield with a mortgage from Norwich and Peterborough Building Society. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not reveal to my lawyer about this extras as it would adversely affect my loan with Norwich and Peterborough Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Chelsfield is where the house is located. Is there any advice you can give?
Flying freeholds in Chelsfield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chelsfield you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chelsfield may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I go with a Chelsfield conveyancing practitioner based in the location that I am hoping to buy? An old friend can execute the conveyancing however his firm is located 400miles away.
The benefit of a high street Chelsfield conveyancing practice is that you can pop in to sign documents, present your identification documents and pester them where appropriate. Having local Chelsfield know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were content that should trump using an unfamiliar Chelsfield conveyancing solicitor solely due to them being local.
Having had my offer accepted I require leasehold conveyancing in Chelsfield. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Chelsfield - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Chelsfield. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Lease Extension matter before the tribunal for a Chelsfield residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired term as at the valuation date was 50.57 years.
What are the distinct benefits to selecting a local lawyer in Chelsfield
Many buyers and sellers in Chelsfield choose a local lawyer so that they can attend the lawyer’s offices if they have problems, and to sign mortgage deeds without using the Royal Mail.
There is a marginal benefit in using a property lawyer nearby to a property you are planning to purchase, due to the knowledge of the region and potential local concerns - nevertheless this is debatable. Many conveyancers carry out their work via the internet and may be practically anywhere.